On January 18, Lithuanian IoT company Teltonika IoT Group and Taiwan’s Industrial Technology Research Institute signed a deal, worth 14 million euros, to share semiconductor chip technology.
Under the agreement, Teltonika will acquire the right to use the licences for semiconductor chip manufacturing technologies and devices developed by the Taiwanese institute.
Taiwan’s Foreign Ministry will contribute 10 million euros to the agreement, with the remaining 4 million euros coming from Teltonika. The semiconductor projects are scheduled to be completed until 2027.
“We have enough potential to establish ourselves in the global semiconductor market, and this partnership with Taiwan will help Lithuania to move forward rapidly, to match the world’s strongest players and to realise our ambitious goals,” Ausrine Armonaite, Lithuanian Economy and Innovation Minister, said in a statement.
“Decisions on strategic diversification and strengthening ties with Taiwan are yielding excellent results. The agreement on the transfer of semiconductor technologies is historic and opens up opportunities for the development of a new high-value-added industry in Lithuania,” added Foreign Minister Gabrielius Landsbergis.
According to Arvydas Paukstis, founder and president of Teltonika IoT Group, this will be the largest cooperation project between Taiwan’s Industrial Technology Research Institute and a foreign country.
“This agreement proves that we are capable and reliable partners for such complex projects. I believe that the implementation of the planned works will help Lithuania to be among the most advanced countries in the world,” he said. (LRT/Business World Magazine)
